133341 20260217205459.0 doi 10.1016/j.frl.2024.105365 sideral 138048 ART-2024-138048 eng Blasco, Natividad Universidad de Zaragoza (orcid)0000-0001-5629-7526 Does war spread the herding effect in stock markets? Evidence from emerging and developed markets during the Russia-Ukraine war 2024 Access copy available to the general public Unrestricted This paper investigates the influence of the Russia-Ukraine conflict on herding behavior in global stock markets. Examining MSCI World and MSCI Emerging indexes alongside Russia, the study explores imitation tendencies before the invasion, immediately after commencement of war, and during an extended war period. Findings reveal that emerging markets facing heightened geopolitical risk, either due to their proximity to the conflict or to commercial interests in energy markets, exhibit herding during the initial war phase. This analysis sheds light on the impact of geopolitical events on financial market dynamics, particularly in emerging economies. info:eu-repo/grantAgreement/ES/AEI/PID2022-136818NB-I00 info:eu-repo/grantAgreement/ES/DGA/S11-23R-CEMBE info:eu-repo/semantics/openAccess by-nc https://creativecommons.org/licenses/by-nc/4.0/deed.es 6.9 2024 BUSINESS, FINANCE 12 / 242 = 0.05 2024 Q1 T1 1.711 2024 Finance 2024 Q1 10.7 2024 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Casas, Luis Universidad de Zaragoza (orcid)0009-0002-0599-9813 Ferreruela, Sandra Universidad de Zaragoza (orcid)0000-0001-8760-9350 4002 230 Universidad de Zaragoza Dpto. Contabilidad y Finanzas Área Economía Finan. y Contab. 63 (2024), 105365 [7 pp.] Finance res. lett. Finance Research Letters 1544-6123 366554 http://zaguan.unizar.es/record/133341/files/texto_completo.pdf Versión publicada 1987622 http://zaguan.unizar.es/record/133341/files/texto_completo.jpg?subformat=icon icon Versión publicada oai:zaguan.unizar.es:133341 articulos driver 2026-02-17-20:21:19 ARTICLE